NationStates Jolt Archive

U.S. Government Reaches $7.38 Trillion Debt Limit: http://quote.bloomberg.com/apps/news?pid=10000103&sid=akgTO2BB5RdA&refer=us

What effect do you think this will have on your elections? If yours was a Commonwealth nation, the term "dismissal" comes to mind...

I look forward to what The Economist will have to say on it.

On the surface, this looks bad for Bush.

But, when you factor in Kerry's proposed spending, from adding personal in the military, health care, education, defense, recovering nuclear material from the former Soviet Union (that is, buying it), and so on, he adds to that figure.

And then, unless he raises taxes across the board, the deficit will only increase.

It's being responsible! The Bush way! :p

OOC
Australian

it is at historicly reasonable levels compared to GDP, the debt has never been a big deal except as an issues to throw around

On the surface, this looks bad for Bush.

But, when you factor in Kerry's proposed spending, from adding personal in the military, health care, education, defense, recovering nuclear material from the former Soviet Union (that is, buying it), and so on, he adds to that figure.

And then, unless he raises taxes across the board, the deficit will only increase.

Actually.. economists (Nobel prize winning ones) agree with Kerry's plan over Bush's.. that says a lot.

Considering there was a surplus with the last President, that is very bad. The War on Terrorism, his Tax cuts, the increased spending in the Homeland Security program among other things have lead to that.

Bad politics? I don't know. But I imagine that a budget deficit is bad regardless of what some conservative will tell you because you have to get that money from somewhere. Seems like it would tend to borrowing, and lower the value of the American dollar.

Actually.. economists (Nobel prize winning ones) agree with Kerry's plan over Bush's.. that says a lot.
it means that the debt will decrease as he taxes everyone.

On the surface, this looks bad for Bush.

But, when you factor in Kerry's proposed spending, from adding personal in the military, health care, education, defense, recovering nuclear material from the former Soviet Union (that is, buying it), and so on, he adds to that figure.

And then, unless he raises taxes across the board, the deficit will only increase.
I knew it was Kerry's fault all along, not only does he hurt everyone's feelings, he's raised the deficit now. What a terrible man.

Considering there was a surplus with the last President, that is very bad. The War on Terrorism, his Tax cuts, the increased spending in the Homeland Security program among other things have lead to that.

Bad politics? I don't know. But I imagine that a budget deficit is bad regardless of what some conservative will tell you because you have to get that money from somewhere. Seems like it would tend to borrowing, and lower the value of the American dollar.

ther was no actual surplus, It was all on paper assuming that we would experience the same levels of growth for the next 25 years that we had during the 90's. remember the Clinton Admin. saying we have defeated the business cycle?

a paper surplus based on faulty numbers is not a surplus

During the Bush Administration, we've seen a net loss of jobs--a first for any president within the last seventy-five years--and it's not surprising that our national debt has soared to a record all-time high. With record spending for wars in both Afghanistan and Iraq, a budget surplus became a national debt.

Unfortunately, taxes are a part of what funds a country. People wish to have better healthcare, better rights, better jobs, and better government; these ideals must be funded with tax dollars from the American public. Yes, taxes are extremely high for the lower class citizens, but they are also not high enough for the people who are considered 'upper class'.

It has also been seen that with this administration, foreign policy has become the very meaning of "Don't mess with Texas." World governments have viewed us with greater suspicion, greater irritation, and have laughed at our general lack of leadership this administration presents to the American public and throughout the world.

One can only hope that with this next election, we will choose a presidential candidate that will decrease our national debt, stabilize the job loss and our economy, and mend our foreign relations.

On the surface, this looks bad for Bush.
But, when you factor in Kerry's proposed spending, from adding personal in the military, health care, education, defense, recovering nuclear material from the former Soviet Union (that is, buying it), and so on, he adds to that figure.
And then, unless he raises taxes across the board, the deficit will only increase.
Don't you just love this answer? Using the worst deficit in history, that occured under a Republican Administration to attack a Democratic Presidential candidate! Effectively ignoring why it got so bad in the first place. Pure genius! You deserve to be one of Bush's speech writers:
"Kerry'll make it worse if he gets in!"
You couldn't put better spin on this if you tried.

"On the surface, this looks bad for Bush." Oh, really? :rolleyes: Now why would that be?

recovering nuclear material from the former Soviet Union (that is, buying it)Yes, best save money and not buy the nuclear weapons-grade plutonium off the Soviets. Far better to leave it lying around waiting for insane multi-millionaire religious fanatics to get their hands on it. :rolleyes:

On the surface, this looks bad for Bush.

But, when you factor in Kerry's proposed spending, from adding personal in the military, health care, education, defense, recovering nuclear material from the former Soviet Union (that is, buying it), and so on, he adds to that figure.

And then, unless he raises taxes across the board, the deficit will only increase.
Silly, you should know that all of that, plus halving the current deficit will magically be solved by raising taxes on the rich a few percent and shaving off a few billion in discretionary spending. :rolleyes:

It's being responsible! The Bush way! :p

OOC
Australian
Well, the Bush campaign said in 2000 that he was dyslexic. "Ooohhh, higher debt is the bad one, muh-m-m-m-my uh, uh ba- the less good of the two options."

wartime debt always is higher. Duh.

wartime debt always is higher. Duh.
oh no logic run away.

The economy was on the downturn before Bush got into power. The rush of the Reagan administration, kept up by papa Bush and Clinton was coming to an end. Naturally, things were bad at the beginning of W's term. Then came Sep. 11th, so of course things went from bad to worse.

To make a long story short, Bush was handed a midden heap. So, he had to do what was necessary. Respond to war and the costs included, AND lower taxes. Without the first, we would be inviting attack by showing weakness. Without the second, the economy would continue on it's downward spiral. Afterall, the economy grows when people are spending money. If they don't have money, how can they spend it?